Introduction: According to statistics from the General Administration of Customs of the People's Republic of China, in April 2026, China's butadiene imports totaled 18,742.95 tons, down 21.18% month-on-month and 58.06% year-on-year. Exports reached 20,702.02 tons, surging 123.67% month-on-month and an even more dramatic 958.23% year-on-year. Net imports turned negative for the first time since April 2024. This simultaneous decline in imports and rise in exports reflects a shift in the flow of butadiene resources within East Asia against the backdrop of military conflict in the Middle East.

Changes in China's Butadiene Import Structure between March and April

Looking at China's butadiene import volume, the domestic import volume has generally continued its downward trend following the Middle East conflict. In particular, China imported 18,742.95 tons of butadiene in April 2026, a month-on-month decrease of 21.18% and a year-on-year decrease of 58.06%. Examining the import structure, the composition of domestic import sources in April underwent significant changes compared to March. Notably, besides Oman, whose imports fell to zero due to the direct impact of the Middle East military conflict, imports from South Korea—which had long accounted for over 30% of China's butadiene imports—also dropped to zero. Domestic import resources were limited to some European sources and a small volume from Southeast Asia. On the export side, China's butadiene exports to South Korea surged to 10,844.93 tons, a month-on-month increase of 87.97%. Additionally, some volumes were exported to Taiwan (China), as well as to Malaysia and Singapore in Southeast Asia. This indicates that the impact of the Middle East military conflict on crude oil and shipping issues not only directly affected the outflow of butadiene resources from the Middle East but also significantly impaired the supply capacity of South Korea, Japan, Taiwan (China), and Southeast Asian regions due to shortages of crude oil and naphtha supply.

| Table: Comparison of China's Butadiene Import Volumes by Source (Mar-Apr 2026, tons) | Table: Comparison of China's Butadiene Export Volumes by Destination (Mar-Apr 2026, tons) |
| :--- | :--- |
| Data Source: General Administration of Customs of the People's Republic of China, compiled by chempricehub Intelligence | Data Source: General Administration of Customs of the People's Republic of China, compiled by chempricehub Intelligence |

Changes in South Korea's Butadiene Import and Export Flows between March and April

South Korea is a crucial node for butadiene transit and consumption in East Asia, and its import/export volumes and structure underwent a dramatic transformation between March and April. According to data under South Korean Customs tariff code 290124, South Korea's imports in April 2026 reached 56,737.60 tons, a substantial month-on-month increase of 102.14% and a year-on-year increase of 47.15%, marking the highest monthly level since 2021. Conversely, exports in April 2026 shrank to 14,208.00 tons, down 32.23% month-on-month and 38.18% year-on-year. Net imports in April reached 42,529.0 tons, the highest level in nearly five years, second only to January 2021.

Table 1: Comparison of South Korea's Imports under HS Code 290124 (Mar-Apr 2026, tons)

| Import Source | April 2026 | March 2026 | Change |
| :--- | :--- | :--- | :--- |
| Netherlands | 21,480.50 | 0.00 | 21,480.50 |
| China | 15,627.70 | 5,759.90 | 9,867.80 |
| India | 8,736.90 | 8,830.50 | -93.60 |
| Brazil | 7,899.40 | 0.00 | 7,899.40 |
| United States | 2,993.10 | 7,622.40 | -4,629.30 |
| Indonesia | 0.00 | 2,855.30 | -2,855.30 |
| Malaysia | 0.00 | 2,045.60 | -2,045.60 |
| Singapore | 0.00 | 955.00 | -955.00 |
| Total | 56,737.60 | 28,068.70 | 28,668.90 |
| Data Source: Korea Customs Service, compiled by chempricehub Intelligence | | | |

Examining South Korea's import source structure in April, imports from the Netherlands and China showed a substantial increase, along with supplementary volumes from India, Brazil, and the United States. The data indicates that South Korea significantly strengthened its supplementary sourcing from Europe in April, while volumes from Southeast Asia and the United States notably declined.

Table 2: Comparison of South Korea's Exports under HS Code 290124 (Mar-Apr 2026, tons)

| Export Destination | April 2026 | March 2026 | Change |
| :--- | :--- | :--- | :--- |
| Japan | 9,636.40 | 2,045.60 | 7,590.80 |
| Taiwan (China) | 2,089.90 | 30.00 | 2,059.90 |
| Malaysia | 2,046.10 | 0.00 | 2,046.10 |
| United Kingdom | 225.30 | 148.80 | 76.50 |
| India | 180.20 | 0.00 | 180.20 |
| Netherlands | 30.10 | 15.10 | 15.00 |
| China | 0.00 | 13,555.20 | -13,555.20 |
| United States | 0.00 | 4,865.90 | -4,865.90 |
| Total | 14,208.00 | 20,660.60 | -6,452.60 |
| Data Source: Korea Customs Service, compiled by chempricehub Intelligence | | | |

Looking at the flow of South Korea's exports in April, the basic trend is broadly consistent with that of China, primarily directed towards Japan, Taiwan (China), and Malaysia. From the import-export data, it is evident that under the shock of tightened crude oil and naphtha circulating resources due to the Middle East military conflict, South Korea, Japan, and Southeast Asian regions experienced significant impacts from the narrowing of their own supply capacity. South Korea's high net import figure also reflects the urgency of supplementing domestic demand gaps during the intense period of the Middle East conflict. Another direct manifestation is the sharp surge in Asian ex-tanker prices.

Since the end of February, when the Middle East military conflict had a significant impact on global crude oil supply security, the flow of butadiene in the East Asian region has changed markedly compared to the pre-conflict period. The overall process has been: raw material shortages leading to supply decline → urgent increase in supplementary import demand → supply-demand rebalancing upstream and downstream. During this process, South Korea, Japan, and Southeast Asia experienced relatively severe shocks. However, as the supply-demand rebalancing process continues to advance, and as the Middle East military conflict transitions from a phase of kinetic confrontation to a stage of ceasefire and peace talks, the overall supply tightness in the region has somewhat eased. The premium in the ex-tanker market has also narrowed significantly compared to the earlier phase of the conflict. Overall, the short-term weakness in crude oil prices, the increase in operating rates of some crackers in the region, and the expected future arrival of European cargoes will further alleviate the regional supply-demand tightness. Market prices will gradually return to fundamental supply-demand logic, and market attention will shift from the crude oil side to the comprehensive interplay between regional upstream supply and downstream demand.